The industrial 3D printing market was valued at USD 1.33 Billion in 2017 and is estimated to be valued at USD 5.66 Billion by 2023, at a CAGR of 27.21% between 2018 and 2023. The base year considered for the study is 2017, and the market forecast has been provided for 20182023. The report aims at estimating the market size and future growth potential of the industrial 3D printing market based on offering, application, process, technology, industry, and region. The report also aims at providing detailed information regarding the major factors influencing the growth of the industrial 3D printing market (drivers, restraints, opportunities, and challenges). It strategically analyzes micromarkets with respect to the individual growth trends, prospects, and contributions to the total market.

[231 Pages Report] The research methodology used to estimate and forecast the industrial 3D printing market begins with capturing data on revenues of the key vendors in the market through secondary research. Some of the secondary sources used in this research include information from various 3D printing associations and organizations, such as The 3D Printing Association, Association of 3D Printing, Additive Manufacturing Society of India (AMSI), Hong Kong 3D Printing Association, Australian 3D Manufacturing Association (A3DMA), World 3D Printing Technology Industry Alliance, Inside 3D Printing Conference and Expo, and American Society of Mechanical Engineers (ASME). The vendor offerings have also been taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall size of the global industrial 3D printing market from the revenue of key players. After arriving at the overall market size, the total market has been verified through the primary research by conducting extensive interviews with key industry experts, such as CEOs, VPs, directors, and executives. The market breakdown and data triangulation procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primary has been depicted in the figure below.

The overall industrial 3D printing market is estimated to grow from USD 1.73 Billion in 2018 to USD 5.66 Billion by 2023, at a CAGR of 27.21% between 2018 and 2023. The industrial 3D printing market is expected to grow substantially due to the factors such as the evolution of 3D printing from developing prototypes to end-use parts production, ease of developing customized products, developments in existing industrial 3D printing materials market, government investments in 3D printing projects, and improvement in manufacturing efficiency.

The industrial 3D printing market has been segmented on the basis of offering into printers, materials, services, and software. The market based on material is further segmented into metals, plastics, ceramics, and other materials; the market for services is subsegmented into manufacturing and consulting; and the market for software is subsegmented into design, inspection, scanning, and printing. On the basis of process, the industrial 3D printing market is segmented into powder bed fusion, material extrusion, vat polymerization, material jetting, binder jetting, direct energy deposition, and sheet lamination. Segmentation on the basis of application includes tooling, heavy equipment and machinery, and robotics. On the basis of technology, the industrial 3D printing market is segmented into stereolithography (SLA), fused deposition modelling (FDM), selective laser sintering (SLS), direct metal laser sintering (DMLS), polyjet printing, inkjet printing, electron beam melting (EBM), laser metal deposition (LMD), digital light processing (DLP), laminated object manufacturing (LOM), and other technologies. The industries considered for segmentation of the market include automotive, aerospace and defense, food and culinary, printed electronics, foundry and forging, healthcare, jewelry, and others industries.

The industrial 3D printing market for printed electronics, and healthcare are growing at the significant rates. Industrial 3D printing is an attractive market for the tooling application as the tooling required in industries is in low volume and has complex shapes based on the usage. This makes industrial 3D printing an attractive technology for tooling.

The industrial 3D printing market for the laser metal deposition technology is expected grow at the highest CAGR during the forecast period. Laser metal deposition technology can be used to print the parts for both repair and production purposes, which makes it suitable for use in manufacturing industries. The benefits of laser metal deposition technology such as reduction of material waste, low tooling costs, repair of parts costly to replace, reduction in lead time, and customization of parts according to the requirement are the major factors driving this market.

In 2017, North America led the industrial 3D printing market in terms of market share, based on value, followed by Europe and APAC. The US held the largest share of the North American industrial 3D printing market, followed by Canada and Mexico. The presence of major manufacturing, automotive, aerospace and defense, and healthcare industries in the US drives the industrial 3D printing market in North America. Continuous technological advancements and financial support from the government further fuel the growth of the market in this region.

The industrial 3D printing market faces challenges associated with maintaining requisite product quality and the threat of copyright infringement. Restraints that curb the market are the high cost and limited availability of materials, difficulties associated with the use of 3D printing software, and lack of standard process control. This report describes drivers, restraints, opportunities, and challenges pertaining to the industrial 3D printing market.